RE:RE:So what’s next?ScandiumPower wrote: Most probably LONG SILENCE.
Your right! History reveals that they are not likely to provide any updates on progress.
Zerosum is also right in questioning funding: As per last filing only $159,370 in cash.
However this bit in the filings gives some context.
NEVADA GOLD MINES LETTER OF INTENT (“LOI”)
On June 25, 2021, the Company entered into an LOI with Nevada Gold Mines (“NGM”) to initiate a joint technical and economic feasibility program at NGM’s Phoenix Mine, near Battle Mountain, Nevada. The purpose of this joint development program is to confirm the economic and technical viability of a critical metals recovery (“CMR”) project at the mine site. The total development program is budgeted at $2.7 million, with the first stage budget being $500,000. NGM and the Company will each pay 50% of the budgeted cost. The LOI may be terminated with no firm obligation for the Company.
And this
At June 30, 2021, the Company had a total of 37,000,000 stock options exercisable between C$0.065 and C$0.37 that have the potential upon exercise to generate a total of C$6,521,250 in cash over the next four and a three quarter years.
And this
As at June 30, 2021, the Company owed $932,620 to various directors and officers of the Company. (December 31, 2020 $702,456).
RE: "the first stage": They might not be as advanced as some originally reported. Will they use options to fund the initial $250,000? Judging that they are arear by almost $1M with their own people it seems that they can use a raise. Knowing SCY, they probably trying to avoid it! :)